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The last auction for calendar year 2016 of Coonoor Tea Trade Association (CTTA) will be held on Thursday. For this Sale No: 51, the volume offered is just 8.15 lakh kg – the lowest in 10 months. The volume was lower than this at 7.98 lakh kg in Sale No: 22 on June 3. This is some 95,000 kg less than the offer of last week.
CTTA Chairman Ramesh Bhojarajan told BusinessLine, “the arrival is low because of reduced production as factories are functioning only for four or five days a week due to shortage of green leaf, the raw material.
The harvest of green leaf has fallen drastically following prolonged dry conditions and adverse moisture presence in the fields. We anticipate a 30 per cent fall in production this calendar over 2015.”
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